Senate considers possible tax on cosmetic procedures

Senate Majority leader Harry Reid introduced a health bill on Wednesday that proposes a 5% tax on cosmetic procedures and surgeries. If passed, the tax would begin in January 2010. An estimated $5 billion would be raised over the next decade, which would be used to help extend healthcare coverage to Americans.

This means that common procedures like Botox, fillers, liposuction, nose reshaping, etc. would come with a heavier price tag. Plastic surgeons and medical spa owners are understandably against the tax, arguing that it will hurt an industry that is slowly recovering from the economic downturn. Should government become involved in the beauty industry, especially when these procedures are not covered by insurance in the first place?

Wendy Lewis, a New York-based beauty industry consultant, says that cosmetic surgery is down 40-60% in some areas. She says "this bill will affect physicians and their employees, vendors, manufacturers, and businesses selling into this industry."

The Senate votes this Saturday on whether to move the debate on to legislation.

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